The Zurich-based start-up OneTwenty has secured a “significant capital injection” for its diabetes management technology after closing its first financing round, further details of which can be found in a press release. The financing round was led by the Cologne-based venture capital firm Dieter von Holtzbrinck Ventures, with the Tiny Supercomputer Investment Company and the experienced healthtech investor Tim Jürgens also involved in the process.
Founded in 2022, OneTwenty specializes in the development of algorithms that aim to improve the functionality of diabetes devices. The company’s proprietary technology by the name of bioX is, according to the information, the first of its kind on the market capable of grasping the intricacies of human metabolism. It can be seamlessly integrated in insulin pumps, smart pens, and blood glucose sensors. “Our advanced machine learning solutions demystify the body’s responses to daily activities, medication and stressors, offering a new era of truly personalized diabetes care”, as Dr. Julian Stiels, CTO and co-founder of OneTwenty, explains in the press release.
According to the press release, the fresh capital is to be invested in the commercialization of the autonomous closed-loop system as well as helping to seal new medtech and pharmaceutical partnerships. CEO and co-founder Michael Rottmann emphasizes the particular importance of this financing following a year in which investments in the healthtech space have suffered a double-digit decline in percentage terms: “We’ve doubled our team post-investment and are accelerating our growth trajectory to meet the increasing demand for our innovative technology”. ce/mm